FatPilot
well yes and no
it was not the reason they had been to good - the particular company wanted to much in way to short time, which caused severe financial troubles - employees took a lot when the financial truth came up and still where loyal.
i can tell you from the experience that even in hard times with pay cuts and lay-offs every single employee was loyal Till the end but the business eager to make money was beyond the capacity and business model - it was definitiv not how employees where treated - fair roasters - fair pay and respect on both sides
and yes EK do what they do - does it make financial sense - maybe - must it be that way - no
the decisions is primarily based on respect to employees. EK has a financial strength and they easily could have done different, it’s all about how much they care and think twice of how they treat employees.
i hope you still have your job (and I really do, because I do t want anybody to go through, what a lot of people are going through right now) and it sounds like - and not everybody is in that lucky situation and not everybody has maybe an alternative to his profession. Here have been lives completely destroyed and some of these live won’t be back to aviation at all - these individuals face a long unemployment, if not forever. Wise speaks about “don’t see you as a victim, and take ownership of your live” is easy said. I know some people who have nothing to head forward to, tremendous financial problems now, no home, some not even a country to go to, because they trusted them. Mistake or not, here have been lives completely destroyed and the fear of getting into absolutely nothing is very, very big.